ECB Conference on Money Markets 2024
Thursday, 7 and Friday, 8 November 2024
Frankfurt am Main
Hybrid event
The annual ECB Conference on Money Markets brings together academics, market practitioners and central bankers to discuss money markets, monetary policy implementation and central bank operational frameworks. Through a combination of research presentations, insights from market participants and high-profile keynote speeches, the conference aims to advance our understanding of how to ensure an efficient monetary policy transmission through money markets.
PHOTOS
High-quality images of the conference are available via Flickr.
Programme
* indicates the presenter
- 8:30
-
Registration
- 9:00
-
Welcome and housekeeping
Imène Rahmouni-Rousseau, European Central Bank
- 9:10
-
Opening remarks
The ECB’s balance sheet reduction: an interim assessmentIsabel Schnabel, Member of the Executive Board of the ECB
- 9:30
-
Session 1 – Repo markets
Chair: Luc Laeven, European Central Bank
-
Collateral Easing and Safe Asset Scarcity: How Money Markets Benefit from Low-Quality Collateral
- Stefan Greppmair*, Deutsche Bundesbank
- Karol Paludkiewicz, Deutsche Bundesbank
- Sascha Steffen, Frankfurt School of Finance and Management
Discussant: Martina Jasova, Columbia University -
Collateral Demand in Wholesale Funding Markets
- Patrick Coen*, Toulouse School of Economics
- Jamie Coen, Imperial College London
- Anne-Caroline Hüser, Bank of England
Discussant: Sriya Anbil, Board of Governors of the Federal Reserve System
- 11:10
-
Coffee break
- 11:30
-
Session 2 – Central bank balance sheet and the Banking Sector
Chair: Massimo Rostagno, European Central Bank
-
Optimal Central Bank Balance Sheets
- Giovanni Lombardo*, Bank for International Settlements
- Egemen Eren, Bank for International Settlements
- Timothy Jackson, University of Liverpool
Discussant: Moritz Lenel, Princeton University
-
The Dynamics of Deposit Flightiness and its Impact on Financial Stability
- Jian Li*, Columbia Business School
- Xu Lu, University of Washington
- Yiming Ma, Columbia Business School
Discussant: Vasso Ioannidou, Bayes Business School
- 13:10
-
Lunch break
- 14:30
-
Keynote speech
Gauging the minimum ample quantity of reservesDarrell Duffie, Stanford University
Chair: Christophe Kamps, European Central Bank
- 15:30
-
Coffee break and poster session
- 16:20
-
Session 3 – Central bank balance sheet and Operations
Chair: Anna Nordstrom, Federal Reserve Bank of New York
-
Monetary Policy Operations: Theory, Evidence, and Tools for Quantitative Analysis
- Ricardo Lagos*, New York University
- Gastón Navarro, Federal Reserve Board
Discussant: Pierre Collin-Dufresne, École Polytechnique Fédérale de Lausanne
-
Liquidity transformation and Eurosystem credit operations
Ben Hartung*, European Central Bank
Discussant: Quentin Vandeweyer, University of Chicago Booth School of Business
- 18:00
-
Get together/Drinks
- 19:00
-
Conference dinner – by invitation only
Hosted by Isabel Schnabel
- 8:30
-
Registration
- 9:00
-
Keynote speech
A Poole-based perspective on monetary policy implementationAntoine Martin, Swiss National Bank
Chair: Thomas Vlassopoulos, European Central Bank
- 10:00
-
Session 4 – FX Market
Chair: Kenji Fujita, Bank of Japan
-
The Implications of CIP Deviations for International Capital Flows
- Jean-David Sigaux*, European Central Bank
- Christian Kubitza, European Central Bank
- Quentin Vandeweyer, University of Chicago Booth School of Business
Discussant: Amy Wang Huber, University of Pennsylvania Wharton School
-
Hunting for Dollars
- Angelo Ranaldo*, University of Basel
- Peteris Kloks, University of St. Gallen
- Edouard Mattille, University of St. Gallen
Discussant: Anusha Chari, University of North Carolina at Chapel Hill
- 11:40
-
Coffee break
- 12:10
-
Market panel
Chair: Imène Rahmouni-Rousseau, European Central Bank
Panellists:
- Rohan Khanna, Head of European Rates Research, Barclays
- Toni Gravelle, Deputy Governor, Bank of Canada
- Luisa Gómez, Chief Financial Officer, BBVA
- Gertjan Vlieghe, Vice Chairman, Millennium
- 13:15
-
Lunch and end of conference
This programme may be subject to change without notice.
Time allocation: 30 minutes for each paper presenter, 10 minutes for each discussant, 10 minutes for Q&A.
Audiovisual notice: A photographer will be present at the event taking photographs for our internet/intranet webpage. If you prefer not to have your photograph taken, please inform us in advance of the conference. The event may be filmed and the video recording (or parts of it) may be published on the internet/intranet.
General information
European Central Bank
Sonnemannstrasse 20
60314 Frankfurt am Main
English
Participants are requested to arrange their own transfers, unless indicated otherwise.
- María Encío, Money Market and Liquidity Division
- Danielle Kedan, Monetary Policy Strategy Division
- Christian Kubitza, Financial Research Division
- Barbara Meller, Market Operations Analysis Division
- Sebastiaan Pool, Monetary Policy Strategy Division
- Bernd Schwaab, Financial Research Division
all ECB
Astrid Bühler
MMconference@ecb.europa.eu